PANews, May 23 news. According to the official blog of the staking service provider Figment, Hester Peirce, the head of the cryptocurrency working group at the U.S. Securities and Exchange Commission (SEC), made it clear in a speech on May 19 that technical activities directly involved in Proof of Stake (PoS) and Delegated Proof of Stake (DPoS) systems do not fall under the jurisdiction of securities laws. This is the first time a senior SEC official has made such a statement regarding staking activities.
Peirce pointed out that the SEC will issue further guidance clarifying which activities are not subject to securities laws, including technical services that assist in participating in consensus mechanisms. She acknowledged that the SEC's past enforcement and regulatory approaches have failed to effectively prevent fraud, instead causing confusion for compliant operators. This statement is viewed as a positive signal for U.S. institutions participating in staking activities. Figment indicated that this will promote broader adoption of staking services by U.S. institutions.